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J. As a cash basis taxpayer you would record the transaction on the day you take what is called Constructive Receipt of the funds. Meaning if you sell something and your broker posts the cash to your account today, and you had the right to withdrawal it, you would book the sale this year. If...

Here is one site that rates analysts (BulldogResearch.com) the other is something along the lines of Vadelia.Com, but I could not find the link so they may have gone the way of Pets.com. Regards

Value Line publishes a list of hi yielding securities on a weekly basis. Your local library should have a copy. The nice thing about VL is they do provide some "professional" commentary of the securities, so if you are looking at picking up a few then you can get an idea of who may or may not...

JJ, In my opinion this is a very risky game to play unless your own analysis gives you a decent entry point. Often times both listed and unlisted stocks get marked way up on the upgrade or way down on the downgrade. As buyers and sellers flock in or out, the price jerks back. Another version...

The best idea that I have is to sell the option yourself and let it expire worthless. That is sell a put if you want to own the stock or sell a call if you what to deliver the stock. I would not recommend naked plays, or selling options on stuff you don't want. The other option is if you...

Out of curiosity what other books if any do you like? I love to read books on both trading and investment and always look to add to my collection. Not so much to find one winning strategy, but to pick up those "ooh yeahh, i've seen that" ideas. From Wade Cook to Benjamin Graham, I usually...

There is so much good stuff on this site, maybe I can give a little back. I ran an analysis on my Yellowpad-2000 yesterday of various baskets of stocks (ETFS) in up-trends, bases and down-trends. Of note on the (down-trends) were energy and utility stocks. Both look to have held resistance...

I recently completed the book (also have a review on Amazon), and was not too crazy about it. For me it was excessively wordy and really did not define for me where his entry, exit, stops and profit goals were. Now maybe I just missed the point, as I do sometimes. Toward the end of the book I...

Providing the supporting detail would be your best bet. Here is a brief solution, and feel free to email me if you want to toss any ideas or ask any questions. For the record, I did pass the CPA a few years back, but am not a practicing CPA or accountant. So any opinions are gleaned from what...

Don, if you have time, maybe you could answer how many indicators or monitors you feel the best for trading. For instance, I have been day trading a small account lately to work in with some other strategies. I can watch the Level 2, Tick, Trin, T&S and a five minute chart. I watch the...

I read a book recently that summed trading up best in that anyone can look at the center of a chart and say I would have bought or sold here. The same seems to be true for most systems in general, until the execution goes through and a profit is booked, can you really look back at the chart and...

AAA, I checked JK Lassers tax guide and could not find anything one way or the other saying that you could not do what you are proposing. What I would offer is that it seems like a risky proposition if you were audited. If your records are destroyed or lost, you are permitted to use a...

According to an article in Barron's Oct 16, 2000 on Sec 475, under the tax code Cap Gains and Div Income are not considered Self Employment income, therefore are not subject to SE Income tax. This is consistent with several other articles that I have read, but this was the only one I could find...

Section 475 of the IRC describes MTM accounting practices for traders. You should be able to get a private letter ruling from the IRS as to whether or not you qualify as an active trader. Most CPAs or tax attorneys could help you with this, which I would recommend since this is the type of...

TopGun, To answer your question the advantage of NV, FL, and Tenn and maybe one or two others like Delaware is that there is no state tax on trading profits, dividends or interest on holdings. Now that is not to say that you don't pay more in property tax and maybe sales tax. But net-net I...

Aspen, despite what you may read, the chances are that your state will view your activity as tax evasion if you do not physically do business in NV. While it is true that some agencies will front an office for you, it is just that. There have been several articles in recent business press...

Aspen, despite what you may read, the chances are that your state will view your activity as tax evasion if you do not physically do business in NV. While it is true that some agencies will front an office for you, it is just that. There have been several articles in recent business press...

Tracker, I would think the simple solution to this would be to open the accounts at two separate brokers. My guess is that internal auditors at one broker would pick up on what you are doing and flag your account. The firm may risk problems if they are not in compliance with the pattern day...